https://www.taxtmi.com/caselaws?id=222063 The case involved a dispute regarding the method of accounting for business income, with the Revenue advocating for the percentage completion method while the assessee consistently used the project completion method. The judgment emphasized the assessee's right to choose a method as long as it was consistent and not defective, ultimately leading to the dismissal of the Revenue's appeal. The court highlighted the importance of respecting the assessee's chosen method unless it distorts the assessment, based on previous acceptance by the Revenue in prior assessments. en-us Fri, 15 Feb 2013 00:00:00 +0530 Fri, 29 Mar 2013 15:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=222063 The case involved a dispute regarding the method of accounting for business income, with the Revenue advocating for the percentage completion method while the assessee consistently used the project completion method. The judgment emphasized the assessee's right to choose a method as long as it was consistent and not defective, ultimately leading to the dismissal of the Revenue's appeal. The court highlighted the importance of respecting the assessee's chosen method unless it distorts the assessment, based on previous acceptance by the Revenue in prior assessments. Case-Laws Income Tax Fri, 15 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=222063